AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
The S&P/ASX 200 Index (ASX:XJO) has shown resilience, climbing 0.3% to 8,220 points after reaching an all-time high of 8,246 during intra-day trading. This positive movement in the Australian bourse aligns with a strong performance in the US markets, where the S&P 500 broke through the 5,700-point mark, the Dow exceeded 42,000 for the first time, and the Nasdaq surged by 2.5%.
In addition to these gains, gold prices are nearing record levels, while the oil market experienced a spike of around 1%. This increase is attributed to heightened expectations that a potential reduction in US interest rates could stimulate economic activity and drive energy demand.
Across the ASX, all sectors are experiencing growth, with the Information Technology sector leading the way with a 1.25% increase. The Consumer Discretionary sector follows closely behind, up by 0.9%, while the Energy sector has risen by 0.67%. Conversely, the Financials sector has been the laggard, remaining flat in today’s trading.
Company News Highlights
Harvey Norman (ASX:HVN) has gained more than 1.4% despite facing a second class action lawsuit with similar claims to a previous case. The allegations suggest that the company sold warranties that mirror free protections mandated under Australian Consumer Law. Despite this legal challenge, investor sentiment remains positive, and shares have been trading at $4.95.
In contrast, Sandfire Limited (ASX:SFR) has seen a decline of 0.8% after announcing findings of extended mineralisation at its Sesmarias Prospect in Portugal. The latest drill results revealed a 41.2-meter intersection, showing 1.6% copper, 3.4% zinc, and trace amounts of silver from a depth of 377 meters. Currently, Sandfire shares are priced at $9.08.
Myer Holdings Ltd (ASX:MYR) has faced a significant drop of 7.7% following the release of its full-year profit results, which showed a decline and a reduction in dividends. The company reported a net profit after tax of $52.6 million, down from $71.1 million in FY23. The downturn is attributed in part to the underperformance of brands such as sass & bide, Marcs, and David Lawrence. Myer's shares are trading at 81 cents.
The ASX200’s performance today reflects broader market trends and sector-specific developments, with investors keenly observing how these dynamics unfold in the coming days.
